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Cinemark, RealD Renew 3D Agreement Through 2022

Cinemark has renewed its 3D agreement with RealD across its global platform through December 2022.

The national theater chain also plans to install RealD 3D systems in new cinemas during the term of the extension, Cinemark CEO Mark Zoradi and RealD COO Travis Reid announced on Tuesday.

“Cinemark is thrilled to extend our strategic partnership with RealD,” Zoradi said in a statement. “We continue to believe the visual effects of 3D can enhance the on-screen action and further immerse movie-goers into the developing storyline of the film. RealD’s technology is first-rate and we value the collaboration with them over the years to ensure Cinemark is among the best and the brightest 3D technology in the industry.”

Reid added, “Cinemark was an early advocate of RealD; their loyalty and commitment has never wavered as they recognized the excitement and added value 3D brings to their theatres. Their long-standing relationship with us is predicated on the highest level of customer satisfaction and demand in their RealD equipped locations. We are extremely pleased to continue collaborating with the Cinemark team as they consistently seek dynamic ways to move the business forward and enhance the overall movie-going experience.”

Box office revenues for 3D films dropped to a record low in 2017, falling 18% to $1.3 billion. That decline was tied to a larger drop in the domestic box office. Overall, North American revenues fell roughly 2% in 2017 to $11.1 billion.

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Recent films, such as Steven Spielberg’s “Ready Player One,” have boosted 3D ticket sales. RealD’s box office has accounted for around $80 million of “Ready Player One’s” $500 million earnings worldwide.

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